Socialism Key Words

common ownership

resources, means and production owned by a collective.

Utopian Socialism

based on the vision of the perfect human existance.

fraternal and cooperation

relationship btw human beings should be generous and harmonious.

orthodox socialism

idea that socialism can only be achieved if capitalism is abolished.

marxism

refers to the writings of marx.

surplus value

the difference between the value produced by labor and the wages paid to laborers, which capitalists exploit for profit.

evolutionary socialism

achieving socialist goals through gradual reforms within existing political systems, rather than through revolutionary means.

fabianism

a movement advocating gradual socialism through democratic means and reform.

Keynesianism

an economic theory advocating for government intervention to manage economic cycles and promote full employment.

stagflation

rising unemployment and the rising of inflation

neo liberalism

favors free markets, deregulation, and minimal government intervention in the economy.

gradualism

an approach to socialism that seeks to goals through gradual reforms rather than revolutionary changes.

revisionist socialism

equalisty can be achieved without destroying capitalism.